Lower sales prices drag Metinvest’s Q1 revenues downward

Revenues at Ukrainian steelmaker Metinvest were down in January-March 2019 mainly due to lower sales prices in the metallurgical sector, the company said on Friday May 24.

In the first quarter of 2019, Metinvest’s consolidated revenues decreased by 5% year-on-year to $2.86 billion, primarily due to the sales prices of steel products and pig iron being on a global downtrend, and to lower resale volumes.
The principal products traded by the company were flat steels, notably hot-rolled coil (HRC), and also slab and pig iron.

In January-March, Metinvest increased its shipment volumes of flat steel by 3% year-on-year to 2.1 million tonnes, while sales fell by 6% year...

Published

Vlada Novokreshchenova

Marina Shulga

May 28, 2019

17:50 GMT

Dnepr